A window cleaner works in the financial district of Canary Wharf in London, Britain March 23, 2018. REUTERS/Kevin Coombs
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Is London's position as the largest international center of finance slipping as a result of Brexit?The financial services sector accounts for about 12 percent of Britain's economic output, employs about 1.1 million people and pays more taxes than any other industry.Firms employing the bulk of U.K.-based workers in international finance told Reuters that the number of finance jobs they plan to shift out of Britain or create overseas by March 2019 due to Brexit has dropped to 5,000, half the figure six months ago.London's finance industry should emerge largely unscathed from Brexit even if thousands of jobs move, the City of London's political leader Catherine McGuinness said, adding that it could take years to feel the full impact of Brexit. Hiring numbersThe number of available jobs in London's financial services industry fell the most in six years in 2017, according to recruitment agency Morgan McKinley, which hires staff in finance. The recruiter found 82,147 new financial services jobs were created last year, a 12.45 percent drop on a year earlier. In Canary Wharf, the number of people using the station fell by 10 percent, while the number of people using London's underground network fell about 2 percent overall last year.
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